Electricity subsidy hits N376 billion as consumers Shell out N783 billion

Electricity subsidy hits N376 billion as consumers Shell out N783 billion

The Nigerian federal government reportedly expended N375.8 billion on electricity subsidies from January to September this year, while power consumers paid a total of N782.6 billion for electricity during the same period. Data from the Nigerian Electricity Regulatory Commission (NERC), … Continue reading Electricity subsidy hits N376 billion as consumers Shell out N783 billion

Food inflation in Nigeria hits 32.84%, escalating challenges in affording basic nutrition

Food inflation in Nigeria hits 32.84%, escalating challenges in affording basic nutrition

Food inflation in Nigeria has risen to 32.84 percent in November, making it increasingly challenging for Nigerians to afford basic necessities. According to the November 2023 report of the National Bureau of Statistics’ Consumer Price Index, overall inflation increased to … Continue reading Food inflation in Nigeria hits 32.84%, escalating challenges in affording basic nutrition

Tinubu shakes up aviation sector: Terminates five agency heads, suspends NCAA boss

Tinubu shakes up aviation sector: Terminates five agency heads, suspends NCAA boss

President Bola Tinubu has initiated a comprehensive shake-up in the aviation sector, announcing the removal of top officials and the appointment of new heads for key agencies. The move, aimed at enhancing standards and transparency, involves the replacement of executives … Continue reading Tinubu shakes up aviation sector: Terminates five agency heads, suspends NCAA boss

UK allocates $15 million for agricultural infrastructure expansion in Nigeria

UK allocates $15 million for agricultural infrastructure expansion in Nigeria

British International Investment to Invest $15m in Valency International for Nigeria’s Agricultural Infrastructure Expansion The British International Investment (BII), the United Kingdom’s development finance institution, has revealed its plan to inject $15 million in equity into Valency International, a Singapore-based … Continue reading UK allocates $15 million for agricultural infrastructure expansion in Nigeria

Naira gains ground, trades at N864/$ on official market with increased dollar supply

Naira gains ground, trades at N864/$ on official market with increased dollar supply

The Nigerian naira experienced a significant appreciation of 27.16%, closing at N864.29/$ on the official Investors and Exporter window on Monday. The daily turnover of the dollar also saw a substantial increase, surging by 86.83% to $132.46 million compared to … Continue reading Naira gains ground, trades at N864/$ on official market with increased dollar supply

Nigeria may increase 2024 Budget if Revenue improves next year - Wale Edun

Nigeria may increase 2024 Budget if Revenue improves next year – Wale Edun

The federal government of Nigeria has indicated the possibility of returning to the National Assembly next year to seek approval for a supplementary budget if the country exceeds its revenue projections. Currently, President Bola Ahmed Tinubu’s N27.5 trillion appropriation bill … Continue reading Nigeria may increase 2024 Budget if Revenue improves next year – Wale Edun

UK commits $1bn to afdb in support of South Africa's clean energy transition

UK commits $1bn to afdb in support of South Africa’s clean energy transition

The African Development Bank has successfully obtained a $1 billion guarantee from the United Kingdom, aimed at bolstering lending initiatives supporting South Africa’s transition to renewable energy and the establishment of a more sustainable economy. The bank’s lending capacity will … Continue reading UK commits $1bn to afdb in support of South Africa’s clean energy transition